Is it true that as long as you have money in your bank account , you can withdraw as many times you want ?

Question

if its limited , like normally how many times ?

Answer 1

If you have money in your account, why wouldn't you be able to take it out?

Answer 2

What type of account do you have?  Most SAVINGS accounts limit the number of withdraws each month.  Checking accounts usually don't have limits.

Answer 3

For most checking and savings accounts, you can make as many withdrawals you want.  A withdrawal means you going to the bank or ATM and taking cash.

Each bank may offer specialized products where they do place a transaction limit.  If you're talking about your own account, you should call your bank and ask them about any limits.

For money market accounts, there are some limits.  Read on:

Federal Regulation D states that you may make no more than six (6) automatic or preauthorized transfers from your share savings or money market account per calendar month or statement cycle. (The monthly limit is based on when the transaction is processed, not when the check or item was written or authorized.) Only three of the six may be made by check, draft or debit card. If you make a combination of checks/drafts and automatic or preauthorized withdrawals, the total limit is still six.

In other words, there are limits placed on money market accounts but they only refer to times where a 3rd party is involved by you writing a check or authorizing a withdrawal from your account.  That does not stop you from going to the bank or ATM to withdraw from your own account.

Answer 4

Depends on the account and the bank.  Savings accounts have limited withdrawal, checking usually doesn't but some do have maintenance fee's.  Just don't withdraw more than is in there.

Answer 5

Not necessarily.  Most banks limit withdrawals on savings accounts.  Read the printed material you got when you opened your account or go to their website and look up the restrictions for your type of account.

Money market accounts usually limit withdrawals as well.  There may be a difference depending on what kind of withdrawal (cash or debit).